Would YOU pay £900 for a carrier bag? Balenciaga releases designer tote that looks exactly like a basic paper bag but costs 174 times as much (and it's not the first time)

The Balenciaga Shopping Bag, top left, a simple white calfskin bag with black handles emblazoned with the fashion house's name, is retailing for an extortionate £870 - and it looks just like its 5p bags, bottom left. And while that seems a laughable amount for the average shopper, it seems that its coveted among fashion fans - because it's already sold out. It's not the first time that the fashion giant has unveiled a designer version of a staple. The classic IKEA tote, bottom centre will set buyers back all of 40p, whereas Balenciaga's 'Arena Extra-Large Shopper Tote Bag' is just a bit more expensive, at £1,693, top right. They were also mocked for another £2,325 bag, top right, that bore a striking resemblance to a blanket bag, bottom right.